NEW YORK — American Universities failed to report $6.5 billion in foreign gifts and contracts, an investigation by the Department of Education found.
Federal law requires schools to disclose substantial foreign gifts and contracts to the Department of Education (DOE) twice a year. Many have for years failed to do so, while others severely underreported the income. The deluge of the financial disclosures poured in as the department opened investigations into 12 elite universities.
Universities reported receiving a total of more than $19.6 billion in foreign gifts and contracts from 2014 to 2020, including nearly $1.5 billion from China, almost $3.1 billion from Qatar, and more than $1.1 billion from Saudi Arabia, according to historical DOE data and most recent figures posted on its new online reporting portal.
Carnegie Mellon University reported receiving almost $1.61 billion in foreign gifts and contracts, the most of any university. Harvard tops the list in terms of total funds received from China, reporting nearly $116 million.